February 10, 2010 8:35 PM

printer

OPEC forecast modest growth in global oil demand

The Organisation of Petroleum Exporting Countries or OPEC held its forecast for modest growth in world oil demand this year today, but warned the slow pace of economic recovery was clouding the outlook. The oil producers' cartel said, the slow pace of the recovery in the world economy in 2010 is putting pressure on oil demand and as a result, US demand is a key uncertainty for this year. The February report of the organisation said, non-OECD regions will be the sole contributors to global demand growth in 2010. World oil demand in 2010 was forecast to projected to grow by 0.8 million barrels per day to average 85.1 million in line with the previous forecast.

Most Read
View All arrow-right

No posts found.